do you think my creditors accept ?

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starboy

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Post by starboy » Wed Aug 20, 2008 11:58 pm
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hi i have been in iva for 18months.Ihave pay less in as my wifes wages and jobs have changed.The peaple who i am with say there will be a credit meeting as my payments will be&360 and not460.Does this happends a lot and do you think my creditors accept this
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MelanieGiles

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Post by MelanieGiles » Thu Aug 21, 2008 12:06 am
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If that is the most that you can pay, and your history of payment is up to date so far, then creditors ought to support your revised proposals.

Variations should be exceptional, rather than frequent, however in the current climate of rising costs there are a lot of people in IVAs who are struggling and therefore I expect to see more of them.
Regards, Melanie Giles, Insolvency Practitioner
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starboy

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Post by starboy » Thu Aug 21, 2008 4:49 pm
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Thankyou for your help.The amount i was told to pay at the start of my iva and what i have paid in so far i am about .2.000 short .will this still be ok.Thi is due wife losing her job and family tax credit has stopped
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